![]() ![]() Does Globalization Help the Poor? A Special Report, San Francisco, CA: International Forum on Globalization. For example, a recent book by the International Forum on Globalization ( 2001 International Forum on Globalization. Whether the perception is correct or not is a moot point, and many references can be quoted to substantiate either side of the argument. Richer countries tend to have higher poverty lines even when the costs are converted to establish purchasing power parity (PPP). The poverty line is an income level less than that required to provide a per capita direct calorie intake (DCI) that is the minimum needed to sustain life. A more meaningful measure is how much money is needed to buy enough food in terms of its calorific value, to survive. What is meant by poverty? A guide is provided by the baseline figure of US$1 per day that is often quoted. ) for its views on global economic prospects.ĩ. Global Economic Prospects and the Developing Countries 2003: Investing to Unlock Global Opportunities, Washington, DC: World Bank. ‘Growth generally does benefit the poor and that anyone who cares about the poor should favor the growth‐enhancing polices of good rule of law, fiscal discipline, and openness to international trade’, it noted.Ĩ. ), for example, also reported that globalization is good for the poor. Growth is Good for the Poor, Washington DC: World Bank. The Debate on Globalization, Poverty and Inequality: Why Measurement Matters, Washington, DC: Development Research Group, World Bank. Relative inequality is unchanged but absolute inequality has risen sharply … It is not that one concept is “right” and one “wrong.” They simply reflect different value judgments about what constitutes higher “inequality.” These value judgments carry considerable weight for the position one takes in the globalization debate’ (Ravallion, 2003a Ravallion, M. But the absolute difference in their incomes has doubled, from $9,000 to $18,000. ![]() If both incomes double in size then relative inequality will remain the same the richer household is still 10 times richer. Consider an economy with just two household incomes: $1,000 and $10,000. ‘“Absolute inequality” depends on the absolute differences in levels of living, rather than relative differences, as captured by the ratios to the mean. Should Equity Be a Goal of Economic Policy?, Washington, DC: IMF Fiscal Affairs Department, International Monetary Fund. The IMF position is outlined in a report (IMF, 1998 IMF (International Monetary Fund). ) provide an interesting briefing on this issue.ĥ. The role of investment in growth has not been addressed here but it is of great importance the Friends of the Earth ( 2003 Friends of the Earth (2003) Investment and the WTO-Busting the Myths Briefing, June, World Development Movement ( ) and Friends of the Earth ( ) (accessed 13 March 2006). Arundhati Roy has written passionately about agricultural subsidies (Roy, 2004 Roy, A. The players with knowledge and power lay down the rules the others fall into line.’ģ. The worldwide free market accentuates the disparity between the centres of capital and the peripheries. ) express a similar view, ‘globalization is institutionalising a new balance of power between states that hardens the sovereignty of some while reducing the autonomy of the others. Le Monde Diplomatique, April, available at (accessed 13 March 2006). Economists commonly use the expression ‘least worst’ instead of ‘best’, because comparative advantage only exists in terms of lower opportunity costs that the production of one good has over another in any particular economy compared with another.Ģ.
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